1: Explain the potential effects on the economic growth rate from substantial increase in the number of skilled people of working age entering a country. 2: Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use. 3: Evaluate the view thatRead More
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Economics Chapter 4 Government Intervention
1: A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets. 2: Explain two reasons why a government might want to subsidize a food or service. 3: Discuss the view that governments should tax the consumption of gasoline (petroleum). 4:Read More
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Chapter 2: Competitive Markets: Demand and Supply 1: Explain how the price mechanism reallocates resources when there is an increase in demand for a good or service. 2: With reference to the concept of excess demand, explain how a decrease in supply of a good would lead to a newRead More